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Feeling vs Spending

November 28, 2012 – 6:20 pm

The Thanksgiving shortened trading days provided a nice bump but not much of a follow through for the beginning of this week. The fiscal cliff is still on everyone’s mind and will continue to be so.

Meanwhile durable good sales showed surprising strength and consumer confidence was the highest in several years. Consumer confidence is a nice report but tells us little however, the durable goods sales, which is for those items lasting over three years, tells me more about confidence when someone opens their purse and actually buys something.

The economy appears to be picking up just ever so slightly from the summer despite what Washington is doing. They could do the right thing and agree to something thus providing more confidence both in feeling good and actual spending.

Good Trading
Steve Peasley

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